There is a double bottom with a neckline resistance around $8020. This aligns with the long term support bounced off on May 26th and May 30th. We are placing a limit order to buy to open on penetration of the $8020 resistance. The height of the double bottom is $430, so our price target is a projection up of equal magnitude. This gives us a price target of roughy $8450, at which place we will close our position.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.